PNC Infratech Ltd

PNC Infratech Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

PNC Infratech Ltd

₹ 317 1.77%
02 Jun - close price
pncinfratech.com BSE: 539150 NSE : PNCINFRA
About

PNC Infratech Limited was incorporated on 9th August 1999 as PNC Construction Company Private Limited. The Company was converted into a limited company in 2001 and was renamed PNC Infratech limited in 2007. PNC Infratech Limited is one of the front-ending infrastructure development, construction, and management companies in the country. The company undertakes infrastructure projects, including highways, bridges, flyovers, power transmission lines and towers, airport runways, industrial area development, and other infrastructure activities.[1]

Key Points

Business Overview:[1]
PNC Infratech Limited provides infrastructure implementation solutions that include engineering, procurement, and construction ("EPC") services on a fixed-sum turnkey basis as well as on an item rate basis. It also executes and implements projects on a "Design-Build- Finance-Operate-Transfer" ("DBFOT"), Operate-Maintain-Transfer ("OMT") , Hybrid Annuity Mode (HAM) and other PPP formats. In the case of BOT and HAM, the company bid as a sponsor either alone or in the joint venture with other ventures and once the project is awarded then it is executed by incorporating a special purpose vehicle.

Website BSE NSE
  • Market Cap ₹ 8,121 Cr.
  • Current Price ₹ 317
  • High / Low ₹ 355 / 219
  • Stock P/E 12.3
  • Book Value ₹ 167
  • Dividend Yield 0.16 %
  • ROCE 15.0 %
  • ROE 16.6 %
  • Face Value ₹ 2.00
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Pros

Cons

  • Contingent liabilities of Rs.3,856 Cr.
  • Dividend payout has been low at 2.25% of profits over last 3 years
  • Debtor days have increased from 36.3 to 50.4 days.
  • Working capital days have increased from 31.0 days to 61.0 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Construction Industry: Construction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
1,347 1,093 1,248 1,582 1,864 1,463 1,798 1,722 2,226 2,053 1,795 1,803 2,305
1,052 806 944 1,175 1,444 1,100 1,432 1,396 1,746 1,535 1,469 1,459 1,894
Operating Profit 295 287 304 407 420 363 366 325 480 518 326 345 411
OPM % 22% 26% 24% 26% 23% 25% 20% 19% 22% 25% 18% 19% 18%
30 30 23 35 24 22 28 18 19 13 24 20 24
Interest 118 116 110 98 102 103 107 103 112 107 108 122 133
Depreciation 76 75 92 108 89 99 97 116 79 104 48 44 57
Profit before tax 131 126 124 237 253 183 190 124 309 321 194 198 244
Tax % 32% 25% 37% 29% 40% 38% 30% 37% 17% 25% 32% 30% 40%
Net Profit 90 92 79 176 150 118 132 83 247 241 132 140 146
EPS in Rs 3.52 3.58 3.07 6.87 5.86 4.59 5.16 3.23 9.64 9.38 5.15 5.45 5.69
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1,273 1,306 1,360 1,861 2,837 2,252 2,411 3,774 5,603 5,788 7,208 7,956
1,120 1,148 1,184 1,581 2,214 1,647 1,648 2,768 4,275 4,366 5,674 6,356
Operating Profit 153 157 176 280 622 605 763 1,007 1,328 1,422 1,534 1,600
OPM % 12% 12% 13% 15% 22% 27% 32% 27% 24% 25% 21% 20%
7 3 11 12 12 39 24 47 182 107 87 81
Interest 24 25 61 93 257 310 309 348 439 426 425 470
Depreciation 19 23 40 60 213 242 262 346 351 363 390 253
Profit before tax 117 112 85 139 164 92 216 360 719 740 806 957
Tax % 33% 33% 41% 34% -27% -28% -12% 2% 24% 33% 28% 31%
Net Profit 78 75 51 91 209 118 243 351 550 497 580 658
EPS in Rs 3.94 3.75 2.77 4.59 8.13 4.61 9.47 13.70 21.43 19.39 22.62 25.67
Dividend Payout % 0% 4% 5% 7% 6% 11% 5% 4% 2% 3% 2% 2%
Compounded Sales Growth
10 Years: 20%
5 Years: 27%
3 Years: 12%
TTM: 10%
Compounded Profit Growth
10 Years: 24%
5 Years: 23%
3 Years: 7%
TTM: 18%
Stock Price CAGR
10 Years: %
5 Years: 14%
3 Years: 42%
1 Year: 23%
Return on Equity
10 Years: 16%
5 Years: 18%
3 Years: 17%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
40 40 40 40 51 51 51 51 51 51 51 51
Reserves 454 548 670 831 1,307 1,410 1,637 1,973 2,503 3,002 3,577 4,234
372 588 1,025 1,692 1,649 1,906 2,021 2,775 3,515 4,192 4,793 6,282
176 246 286 534 1,829 1,851 2,192 2,455 2,421 2,330 2,224 2,066
Total Liabilities 1,042 1,422 2,021 3,097 4,835 5,219 5,902 7,254 8,490 9,575 10,645 12,632
111 444 649 683 2,447 2,405 2,279 2,234 1,978 1,797 1,482 1,291
CWIP 193 296 593 1,482 2 8 11 6 0 3 0 0
Investments 51 92 105 94 66 103 169 263 444 579 424 312
688 590 674 838 2,320 2,703 3,443 4,752 6,068 7,196 8,740 11,030
Total Assets 1,042 1,422 2,021 3,097 4,835 5,219 5,902 7,254 8,490 9,575 10,645 12,632

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-43 318 139 247 94 285 591 197 525 190 -499 -1,454
-204 -502 -555 -968 -170 -202 -252 -444 -230 -252 25 343
250 212 458 647 117 -135 -211 400 254 63 148 1,005
Net Cash Flow 4 28 42 -74 41 -51 129 153 549 1 -326 -106

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 99 67 51 52 53 106 90 50 19 25 34 50
Inventory Days 134 107 89 132 94 67 75 101 45 58 55 55
Days Payable 77 143 74 66 82 120 203 120 80 118 59 50
Cash Conversion Cycle 156 31 66 118 66 52 -37 31 -17 -36 30 56
Working Capital Days 125 65 63 67 47 69 20 17 -9 9 23 61
ROCE % 20% 14% 10% 11% 15% 13% 15% 16% 21% 17% 15% 15%

Shareholding Pattern

Numbers in percentages

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
56.07 56.07 56.07 56.07 56.07 56.07 56.07 56.07 56.07 56.07 56.07 56.07
6.42 6.06 5.82 10.79 9.32 11.57 10.88 9.99 10.48 9.77 9.32 9.52
24.24 24.29 23.81 27.71 29.17 28.33 28.92 26.83 28.57 29.10 29.58 29.39
13.27 13.58 14.30 5.43 5.44 4.03 4.13 7.11 4.88 5.06 5.04 5.03

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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